Questions for Ch.11,12,21

Posted: April 6th, 2022

1. Name the 7 Barriers to Entry in a Oligopoly Market. Are barriers to entry Low, Moderate or High in an Oligopoly Market? Why ? [Chapter 10 Oligopoly]

2. What is Game Theory (definition)? How does Game Theory apply to an Oligopoly Market? [Chapter 11 Oligopoly]

3. Are Concentration Ratios Low, Moderate or High in a Monopolistic Competitive Market? Explain why its low, moderate or high. [Chapter 11 Oligopoly]

4. Explain how Monopolistically Competitive Firms develop A.) Market Power and B.) Firm’s Control over Price. Also, describe and explain The Shape of the Monopolistic Competitive Firm’s Demand Curve. [Chapter 11 Oligopoly]

5. What is an Export (Definition)? Give an example of an exported product from the United States. What is an Import (Definition)? Give an example of an Imported product to the United States. [Chapter 21 International Trade]